Voice of America
15 Dec 2019, 11:35 GMT+10
SHANGHAI, CHINA - China has suspended additional tariffs on some U.S. goods that were meant to be implemented on Dec. 15, the State Council's customs tariff commission said on Sunday, after the world's two largest economies agreed a "phase one" trade deal on Friday.
The deal, rumours and leaks over which have gyrated world markets for months, reduces some U.S. tariffs in exchange for what U.S. officials said would be a big jump in Chinese purchases of American farm products and other goods.
China's retaliatory tariffs, which were due to take effect on Dec. 15, were meant to target goods ranging from corn and wheat to U.S. made vehicles and auto parts.
What's In the US-China Trade Deal? Broad outlines are similar to deal in principle announced in October that was dominated by increased Chinese purchases of US agricultural goods
Other Chinese tariffs that had already been implemented on U.S. goods would be left in place, the commission said in a statement issued on the websites of government departments including China's finance ministry.
"China hopes, on the basis of equality and mutual respect, to work with the United States, to properly resolve each other's core concerns and promote the stable development of U.S.-China economic and trade relations," it added.
Beijing has agreed to import at least $200 billion in additional U.S. goods and services over the next two years on top of the amount it purchased in 2017, the top U.S. trade negotiator said Friday.
A statement issued by the United States Trade Representative also on Friday said the United States would leave in place 25% tariffs on $250 billion worth of Chinese goods.
Get a daily dose of International Technology news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to International Technology.
More InformationCULVER CITY, California: TikTok is preparing to roll out a separate version of its app for U.S. users, as efforts to secure a sale...
The IPO boom is breathing new life into Hong Kong's capital market, not only helping companies tap international opportunities, but...
CHANGCHUN, July 8 (Xinhua) -- Hemmed in by Russia's frozen coastline and the secluded mountains of the Democratic People's Republic...
SOF Connect, in collaboration with global retail and food & beverage leader Avolta, announced two major projects aimed at enhancing...
Interest in Kiswahili among Chinese nationals is steadily rising. It represents a growing movement of cultural curiosity, mutual respect,...
Hyderabad (Telangana) [India], July 7 (ANI): Ahead of his birthday, Bharat Rashtra Samithi (BRS) Working President KT Rama Rao (KTR)...
CULVER CITY, California: TikTok is preparing to roll out a separate version of its app for U.S. users, as efforts to secure a sale...
PALO ALTO/TEL AVIV: The battle for top AI talent has claimed another high-profile casualty—this time at Safe Superintelligence (SSI),...
New Delhi [India], July 9 (ANI): The user trials of the made-in-India anti-submarine Extended Range Anti-Submarine Rocket (ERASR) have...
Washington, DC [US], July 8 (ANI): Tesla CEO Elon Musk has announced that exposing the Jeffrey Epstein files will be a top priority...
The offer pops up in your social media feed. The website is professional and the imagery illustrates an Australian coastal region,...
(Photo credit: Raymond Carlin III-Imagn Images) BYU coach Kalani Sitake plans to let quarterback Jake Retzlaff speak for himself...